A New York City daily newspaper called "Manhattan Today" charges an annual subscription fee of $135. Customers prepay their subscriptions and receive 260 issues over the year. To attract more subscribers, the company offered new subscribers a coupon to receive a 40% discount on a one-hour ride through Central Park in a horse-drawn carriage. The list price of a carriage ride is $125 per hour. The company estimates that approximately 30% of the coupons will be redeemed. Required: 1. Assume that a customer purchased a subscription on October 1, 2020 (paying cash). Prepare the newspaper's entry to record the sale on October 1 and any adjusting journal entry needed at December 31. Assume that the coupon remains unused at December 31. Entry on October 1, 2020